European Science Park Group (ESPG AG), a real estate company specialising in science parks, has published its consolidated financial statements for the 2025 financial year, receiving an unqualified audit opinion. The final figures largely confirmed the preliminary results announced on 31 March 2026, with Group earnings amounting to a positive EUR 2.3 million, a significant improvement from the EUR -24.8 million reported in 2024.
During the 2025 financial year, ESPG AG generated income from property management of EUR 18.0 million, compared with EUR 16.4 million in the previous year. The result from property management rose to EUR 11.6 million from EUR 7.3 million in 2024. This increase was supported by a one-off effect from the termination of a larger lease agreement. Including this effect, EBIT reached EUR 9.5 million, after negative earnings before interest and taxes of EUR -11.2 million in the prior year. Excluding the one-off effect, Group earnings were EUR 0.7 million.
Ralf Nocker, Member of the Management Board of ESPG AG, stated that the published figures demonstrate the company's ability to continue its positive trajectory and achieve a solid result following the financial reorganisation. He noted that with the science park portfolio, annual surplus, and stable loan-to-value (LTV) ratio, ESPG AG is well-positioned to initiate the next phase of development, including taking advantage of market opportunities and implementing portfolio measures. The company has already classified one of its properties as held for sale.
Equity amounted to EUR 83.7 million as of the balance sheet date, slightly above the EUR 79.5 million recorded on 31 December 2024, taking into account the financial reorganisation. Cash and cash equivalents increased to EUR 4.7 million at year-end 2025, up from EUR 2.3 million in the previous year. The LTV ratio remained stable at 57.4%, compared with 58.6% in 2024. Christian Fendel, Director of Finance of ESPG AG, highlighted that this stability provides flexibility for further investments in science parks and allows for discussions on extending existing loans and acquiring additional financing on sustainable terms.
As of 31 December 2025, the portfolio comprised 16 science parks valued at approximately EUR 215 million. ESPG AG continues to focus on systematically developing its existing real estate portfolio towards science parks and attracting tenants from research-driven future-oriented industries. Key operational tasks for the coming months include reducing vacancies through new lease agreements and implementing maintenance and modernisation measures across the portfolio.
From ESPG AG's perspective, science parks in Germany remain an attractive market segment, supported by proximity to universities, hospitals, and research locations, as well as demand from innovation-driven sectors such as life sciences, green technologies, and digital transformation. The company sees further potential for targeted portfolio development. The audited 2025 consolidated financial statements are available for download on ESPG AG’s website at https://espg.space/investor_relations/financial-statements/.
